For October, prime cost incurred was NUBD Co. has the following data for the month of OctoberInventories:Raw materialWork in processFinished goodsOctober 1P18,0009,00027,000October 31P15,0006,00036,000Additional information for March:Raw material purchasedDirect labor payrollDirect labor rate per hourOverhead rate per direct labor hourP42,00030,0007.5010.00

Prime cost means the addition of direct material and direct labor. Conversion cost means the…

Answered: For October, prime cost incurred was

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Given a predetermined overhead rate of $1.60 per direct labor hour, a capacity of 50,000 hours and 42,000 actual hours, the cost of unused capacity is
The variable overhead spending variance is most effective in measuring: O how well overhead spending matches the targets set in the original budget at the beginning of the year. O the efficiency with which the activity base was utilized in production. O the excessive use of overhead resources. O the utilization of plant facilities.
prepare entry to assign manufacturing overhead to production, assuming the predetermined overhead rate is 125% of direct labor cost.
Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47,120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510
When preparing a forecasted contribution margin income statement and you are given the units produced, how do you compute dollars per unit?
Overallocated manufacturing overhead results when A. actual overhead is less than expected. OB. estimated overhead is less than actual overhead. OC. actual overhead is less than allocated overhead. OD. production is less than last year.
The cost of the beginning work in process inventory was comprised of $\$ 3,000) of direct materials, \(\S 10, 000) of direct labor, and \(\$ 10,000) of factory overhead. Costs incurred during the period were comprised of \(\S 15,000) of direct materials costs, and \(\$ 100,000 $ of conversion costs. The equivalent units of production (EUP) for the period were 9, 000 for direct materials and \(6.000) for conversion. The costs per EUP were: $0.33 per EUP for direct materials and \(\5 3.34) per EUP for conversion. \(\S 1.67) per EUP for direct materials and \(\$ 9.43) per EUP for conversion. \(\$ 1.10) per EUP. \(\$ 2.00) per EUP for direct materials and \(\S 20.00) per EUP for conversion.
The number of production units that could have been completed within a given accounting period, given the resources consumed is called what? Group of answer choices equal units of production equivalent units of production partial units of production projected units of production

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